Atlanta, GA, November 3, 2005--Beazer Homes USA posted earnings that more than doubled in the fourth quarter reaching $164.4 million, or $3.61 per share. In the same period of last year the company reported earnings of $80.1 million, or $1.82 per share.
Analysts had estimated quarterly earnings at $3.11 per share.
Quarterly revenue rose to $1.81 billion, up 50% from $1.21 billion, on stronger home orders.
Beazer Homes shares rose $1.55, or 2.6%, to $61.75 in premarket activity.
For the year, net earnings climbed 11 percent to $262.5 million, or $5.87 per share, from $235.8 million, or $5.59 per share. Excluding charges, Beazer earned $$392.8 million, or $8.72 per share, for the quarter.
Sales rose to $5 billion, up 28% from $3.91 billion.
Consensus estimates called for a profit of $8.29 per share on sales of 4.76 billion.
Beazer's president and chief executive Ian J. McCarthy said that the Atlanta-based company's initial earnings outlook for fiscal 2006 is $10.50 per share, a 20% boost over fiscal 2005.
